On CNBC's Money in Motionlast Friday, I recommended cutting back on this trade as it had a very large move in a very short period of time and I wanted to take some risk off the table.

Since we had 2/3rds of the move I was anticipating, I said to cut 2/3rds of the position at 0.8775 and move the stop down to where we got short at 0.9025.

Andrew B. BuschDirector, Global Currency and Public Policy Strategist at BMO Capital Markets, a recognized expert on the world financial markets and how these markets are impacted by political events, and a contributor to CNBC's Money in Motion Currency Trading.You can comment on his piece and reach him hereand you can follow him on Twitter at http://twitter.com/abusch.